…their own regulatory solutions as global efforts bog down. He pointed to an “isolated, U.S.-centric” bill from senators to mandate a 15 percent capital cushion for the biggest banks.
Oil States Rises After Jana Discloses 9.1% Stake: Houston Mover (Bloomberg)
Oil States International, Inc. (NYSE:OIS), a provider of housing at oilfields, rose to the highest in its history after activist investor Jana Partners LLC disclosed a stake and said it’s talked with management about strategic changes. The company, based in Houston, increased 16 percent to $88.54 at 10:46 a.m. in New York. The shares earlier climbing as much as 18 percent to $90.38, the highest intraday since the company began trading in 2001. Jana acquired a 9.1 percent stake in Oil States and spoke with management about separating the company’s well-site services unit and creating a real estate investment trust for the oilfield housing business, the investment fund led by Barry Rosenstein said yesterday in a federal filing.
Poker Link May Have Sunk Lasry’s Ambassadorial Ambitions (FINalternatives)
Asian hedge fund rides African rollercoaster (Financial Times)
When China’s newly installed president Xi Jinping visited the Republic of Congo in March, nobody analysed the official statements from the trip more carefully than Nick Taylor, founder of one of the largest hedge funds in Asia. He was particularly heartened by a statement pledging joint co-operation between the two countries. Mr Taylor was looking for evidence of a cordial relationship because Senrigan, his hedge fund, had invested heavily in mining company Sundance Resources, betting that it would be taken over by Sichuan Hanlong, a private Chinese mining company. Sundance, which is listed in Australia, has just one asset – a valuable iron ore project called Mbalam that straddles the border between the Republic of Congo and Cameroon.
Ex-hedge fund boss seeks leniency at NY sentencing (Boston Herald)
A former hedge fund manager convicted of insider trading charges for making as much as $50 million on a tip about Dell Inc. (NASDAQ:DELL) earnings asked for leniency Tuesday from the judge who will sentence him in two weeks. Lawyers for Anthony Chiasson said he made less than a half-million dollars after expenses from illegal trades, although the government has said he earned tens of millions of dollars on a tip received about Dell Inc. stock in 2008. The government will submit a response to the defense filing in U.S. District Court in Manhattan before the May 13 sentencing. Chiasson, of Manhattan, is the founder of Greenwich, Conn.-based Level Global Investors.
CalPERS asks Milken crowd for hedge fund resumes (Pensions & Investments)
CalPERS continues to build out its hedge fund capability and seeks four additional investment professionals to join its six-person team, said Edigio “Ed” Robertiello, senior portfolio manager, absolute-return strategies, for the $258.3 billion fund. In fact, Mr. Robertiello during his presentation on Monday at the Milken Institute Global Conference in Beverly Hills, Calif., asked audience members to send him their resumes.
36 South Offers ERISA-Compliant Volatility Hedge Funds (FINalternatives)
Hedge fund 36 South Capital Advisors has launched U.S. pension-friendly versions of its flagship volatility strategy. The London-based firm rolled out versions of the Kohinoor Core Fund and Kohinoor Series III fund that comply with the U.S. Employee Retirement Income Security Act, Hedge Funds Review reports, opening the strategy to pension funds and other tax-exempt U.S. investors. Prior to the launch of the Cayman Islands-domiciled vehicles, the strategy was available only onshore, domiciled in Ireland.
